Is Sallie Mae going to go lower once again?

It would seem that Sallie Mae (SLM) will be in trouble once again. If the Senate votes along the lines of the house it would seem that Sallie Mae will lose a lot of their revenue stream, although they could still service existing loans, and compete to service a few future student loans. I cannot see how the US govt lending directly to students would not hurt Sallie Mae badly? While they would not go out of business, their stock seems to have a good chance of going lower.